Home Loan Education

Many say your home is the wisest investment you'll make. Historically, it's an asset you can count on during difficult times, and it's something you can pass on to your family.

Your home is a financial tool; you build equity as you pay your loan and as the value increases in favorable market conditions.

Unlock Your Home's Equity With Wells Fargo Financial

Refinancing your home loan can help you free up your budget by taking advantage of the equity you've built. For many homeowners, it's a great way to restructure high-interest bills and thereby reduce your current monthly payments.

You could free up extra money each month to spend however you’d like. Or, you may choose to get cash out to pay for your immediate financing needs. With home loans, the interest you pay may be tax deductible.

What Is A Mortgage Loan?

A Mortgage is a document that gives a lender an interest in real property. It provides the lender assurances that you’ll honor your promise to repay the money you’ve borrowed. Your promise to repay is found in the written instrument known as the Note. Together, a Mortgage and Note are often simply referred to as a mortgage loan.

Mortgage loans come in many different shapes and sizes, all with their own advantages and disadvantages. It is important to learn about all the mortgage loan options available, so you can select the one that’s right for you, your financial situation and your personal goals.

Wells Fargo Financial offers Fixed-Rate Mortgage Loans for individuals interested in refinancing.

Fixed-Rate Mortgage Loans

Fixed-rate mortgages offer predictable monthly principal and interest payments throughout the life of the loan and give protection from rising interest rates. They work well for those with a fixed or slowly-increasing income and have a lower tolerance for financial risk. Fixed-rate mortgages are generally well-suited for borrowers who plan to stay in their home for a longer period of time. Fixed-rate mortgages are often considered more conservative and can give you the security of knowing your monthly principal and interest payment will not change over the life of your loan.